Tex. Spec. Dist. Local Laws Code Section 8508.0207
Investment of Authority Money; Application of Income from Investments

(a)

Money in the treasury that is not required for the current payment of obligations of the authority or for sinking funds and that the board considers available for investment may be invested or reinvested by the authority in:

(1)

direct obligations of the United States;

(2)

obligations the principal and interest of which are guaranteed by the United States;

(3)

direct obligations of or participation certificates guaranteed by:

(A)

a farm credit bank;

(B)

the Federal National Mortgage Association;

(C)

a federal home loan bank; or

(D)

a bank for cooperatives;

(4)

certificates of deposit of a bank or trust company the deposits of which are fully secured by a pledge of securities of any of the institutions specified by this subsection;

(5)

other securities eligible for investment under other laws; or

(6)

a combination of the investments listed in this subsection.

(b)

The board shall determine the type and maturity of investments made under this section.

(c)

A resolution relating to the issuance of bonds or other obligations must include appropriate provisions relating to the investment of money in funds established in connection with the authorization of those bonds or other obligations.

(d)

The board shall direct the application of income from investments made under this section.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.03, eff. April 1, 2021.

Source: Section 8508.0207 — Investment of Authority Money; Application of Income from Investments, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­8508.­htm#8508.­0207 (accessed Jun. 5, 2024).

8508.0001
Definitions 8508.0002
Nature of Authority 8508.0003
Purpose of Chapter 8508.0004
Finding of Benefit 8508.0005
Review Schedule Under Sunset Act 8508.0006
Territory 8508.0007
Liberal Construction of Chapter 8508.0051
Membership of Board 8508.0052
Terms 8508.0053
Removal 8508.0054
Vacancy 8508.0055
Bond Requirement for Directors 8508.0056
Compensation of Directors 8508.0057
Officers 8508.0058
Director Training Program 8508.0059
Interest in Contract 8508.0060
Committees 8508.0061
Executive Director 8508.0062
Separation of Policymaking and Management Functions 8508.0063
Directors’ and Employees’ Fidelity Bonds 8508.0064
Authority’s Office 8508.0065
Negotiated Rulemaking and Alternative Dispute Resolution 8508.0066
Complaints 8508.0101
General Powers and Duties 8508.0102
Effect of Powers of Authority on Powers of Other Districts 8508.0103
General Powers Relating to Works and Water 8508.0104
Control and Use of Waters 8508.0105
Use of Beds and Banks of Sulphur River and Its Tributaries 8508.0106
Water Conservation Program 8508.0107
Groundwater 8508.0108
Applicability of Certain Environmental Laws 8508.0109
Permits and Licenses 8508.0110
Consultation with County Judge for Certain Proposed Projects 8508.0111
Service Contracts and Charges 8508.0112
Acquisition, Maintenance, and Operation of Property 8508.0113
Acquisition, Construction, Maintenance, and Operation of Facilities 8508.0114
Eminent Domain 8508.0115
Cost of Relocating or Altering Property 8508.0116
Sale, Lease, Exchange, or Other Disposition of Property 8508.0117
General Contract Powers 8508.0118
Power of Persons to Contract with Authority 8508.0119
Award of Certain Contracts 8508.0120
Construction Contracts: Payment 8508.0121
Conflict of Interest in Contract 8508.0122
Surveys and Engineering Investigations 8508.0123
Plans 8508.0124
Access to Authority Property 8508.0125
Authority to Exercise Powers of Political Subdivisions Under Water Code 8508.0126
Limitations on Powers and Duties of Authority 8508.0127
Suits 8508.0151
Adoption and Enforcement of Rules 8508.0152
Civil Penalty 8508.0153
Court Review 8508.0201
Disbursement of Money 8508.0202
Accounts, Contracts, and Other Records 8508.0203
Fees and Charges 8508.0204
Trust Money 8508.0205
Taxes and Tax Debt Prohibited 8508.0206
Depository 8508.0207
Investment of Authority Money 8508.0208
Fiscal Year 8508.0209
Audit 8508.0251
Loans and Grants 8508.0252
Power to Apply for Money for Engineering Surveys, Data Compilation and Collection, and Other Purposes 8508.0253
Power to Issue Bonds or Other Obligations 8508.0254
Refunding Bonds 8508.0255
Form of Obligations 8508.0256
Maturity 8508.0257
Trust Indenture 8508.0258
Additional Obligations 8508.0259
Additional Provisions in Resolution Authorizing Obligations or Trust Indenture
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 8508.0207’s source at texas​.gov